5 Most Undervalued Large Cap Stocks To Buy According To Hedge Funds

4. Intel Corporation (NASDAQ:INTC)

Number of Hedge Fund Holders: 69

P/E Ratio as of January 24: 9.27

Intel Corporation (NASDAQ:INTC) is a California-based company engaged in the design, manufacture, and sale of computer and technology products worldwide. On January 23, Truist analyst William Stein raised the price target on Intel Corporation (NASDAQ:INTC) to $33 from $29 and kept a Hold rating on the shares as part of a broader research note and a more positive outlook for Semis and AI names. 

According to Insider Monkey’s Q3 data, 69 hedge funds were long Intel Corporation (NASDAQ:INTC), compared to 65 funds in the prior quarter. John Overdeck and David Siegel’s Two Sigma Advisors is the largest stakeholder of the company, with 15.15 million shares worth $390.5 million. 

In its Q3 2022 investor letter, ClearBridge Investments, an asset management firm, highlighted a few stocks and Intel Corporation (NASDAQ:INTC) was one of them. Here is what the fund said:

“Also on the detractor side, Intel Corporation (NASDAQ:INTC) delivered a disappointing revenue miss and lowered full-year revenue and earnings guidance as COVID-19-driven demand for PCs abated (where Intel enjoys half its sales) and a delay in its flagship Sapphire Rapids CPU hurt its data center business. Despite these issues, we still believe Intel is an economically sensitive turnaround story with substantial upside.”